DOJ Confirms it has Possession of Absolute Poker Software Platform
PokerFuse.com is reporting that the US Department of Justice confirmed receipt of a copy of shuttered Absolute Poker’s software platform last week from Korean developer Quad Dimensions.
The DOJ is attempting to seize and resell assets belonging to Absolute Poker/ UB.com in an effort to pay back former customers who have been owed for more than a year now. Absolute Poker was effectively shut down by the US government on April 15, 2011 after one of its principals was charged with bank fraud and money laundering. Another man was charged with violating gambling laws.
From PokerFuse.com:
Young Jae Lee and Chul Jae “CJ” Lee, the forces behind Quad Dimensions, and seven other Quad Dimensions employees also owned stock in Madeira Fjord AS, the related Norwegian AP shareholder entity that was forced into bankruptcy after Avoine executed a rescission agreement that transferred control of the AP assets back to Avoine and a nominal front group, Blanca Games.
That transfer left more than 200 general AP shareholders without any say in the operations or finances of Absolute Poker, while facing a 300 million kroner Norwegian tax assessment once the nature of Madeira Fjord’s operations became known.
- Ace King, Gambling911.com
